BMO's Coxe expects gold-backed bonds in Europe
Dear Friend of GATA and Gold:
BMO market analyst Don Coxe today tells King World News that the likelihood is increasing that new bonds issued by the weaker nations in the eurozone will be backed by gold and that gold will be brought back formally into the international financial system, leading to a substantial upward revaluation. Why anyone would trust the gold pledges of nations that can't possibly fulfill their social welfare promises under any circumstances may be hard to understand, but anything like this is going to be construed as gold's superiority as money. An excerpt from Coxe's intervies is posted at the King World News blog here:
Meanwhile the King World News weekly monetary metals market review, featuring Bill Haynes of CMI Gold and Silver and futures market analyst Dan Norcini, has a hell of a week to discuss in audio posted here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.